A $200 billion spending push by India to boost renewable power output will help drive a surge in issuance of green bonds, according to a unit of Citigroup Inc., the country’s largest arranger of offshore note transactions in 2016 – reports Bloomberg.

“India is spending so much money on renewable energy and improving energy efficiency, it makes a lot of sense to start accessing bonds in the green format,” said Neville Fernandes, head of debt capital markets origination at Citigroup’s local unit in Mumbai.

The energy firm has yet to make a decision on how to raise £18bn of funds needed for the power station, and has put off deciding until September to allow time to consult the unions.

The unions are obliged to deliver their opinion today on whether Hinkley should go ahead. But three of them issued a statement last week to say that Britain’s vote to leave the European Union added new elements of uncertainty.

UK solar: Output hits new record in July

Solar power has hit new record highs in the UK, providing almost a quarter of the country’s electricity at one point last month, analysis shows – reports the Press Association.

The solar industry estimates the country now has almost 12 gigawatts (GW) of solar panels, on homes, offices, warehouses, schools and other buildings and in solar farms – enough to power the equivalent of 3.8 million homes.